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being pretty much underemployed (underemployed, meaning that I have a BS from college, but there are no open jobs for my industry; thus I am taking a lower job that doesn't require any training I received from school) for the past year now, I am pretty much resigned to the fact that what we are facing now is a "new normal" and if the economy does recover, it may take years for it to even come close to the level it once was in 2006/2007, if ever.

I got to thinking to myself, "things were pretty good back 3 years ago; but maybe they shouldn't have been so good in the first place." My plans for the future now have completely changed. The income I'm getting now, being substantially lower than what I used to get paid, is probably what I need to plan to survive around.

Anyways, do you think that what we're facing now is the "new normal"? or do you think we will bounce back quickly within the next two years?